Apple’s warning on Wednesday about weak iPhone demand in the holiday quarter is a gloomy omen for Wall Street bulls hoping for an early gift in 2019 following December’s steep selloff.
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Apple Inc on Wednesday cut its sales forecast for its latest quarter, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations.
U.S. fund investors anguished over economic growth and policies pulled the most cash from stocks in any weekly period since last February, Investment Company Institute data showed on Wednesday.
S&P 500 futures fell 1.5 percent as trading resumed late on Wednesday after Apple cut its forecast for the holiday quarter.
Nordstrom Inc said http://bit.ly/2TmnAaf its co-president, Blake Nordstrom, passed away early Wednesday morning at the age of 58.
Wall Street edged nominally higher on Wednesday after stumbling out of the starting gate on the first trading day of the new year, as fears of a global economic slowdown were exacerbated after Apple Inc cut its current quarter revenue forecast.
Tesla Inc on Wednesday cut U.S. prices for all its vehicles to offset lower green tax credits, and fell short on quarterly deliveries of its mass-market Model 3 sedan, sending shares of the electric vehicle maker down nearly 7 percent on worries of future profitability. Analysts questioned whether the $2,000 price cut on all models signaled lower demand in the United States, and ultimately whether the move would undermine nascent profitability at the Silicon Valley
Wall Street edged nominally higher on Wednesday after stumbling out of the starting gate on the first trading day of the new year, as bargain-hunting was offset by fears of a global economic slowdown.
Weak Chinese and European economic data weighed on stocks around the world and boosted safe-haven Treasuries and the Japanese yen on Wednesday, though Wall Street shares edged higher as investors took advantage of cheaper shares to ring in the new year.
Apple Inc on Wednesday cut its current quarter revenue forecast, citing fewer iPhone upgrades and weak sales in China.
Wall Street edged nominally higher on Wednesday after stumbling out of the starting gate on the first trading day of the new year as bargain-hunting was offset by fears of a global economic slowdown.
The Treasury yield curve flattened on Wednesday afternoon as shorter-dated yields rose on higher oil prices, while at the long end, the benchmark 10-year U.S. government bond was driven to an 11-month low by concerns about a global growth slowdown.
Oil prices rose about 2 percent in choppy trading on Wednesday, supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil.
Stocks recovered much of their losses on Wednesday as investors took advantage of cheaper shares to ring in the new year, but lingering economic concerns from weak Chinese and European data boosted safe-haven assets including benchmark U.S. Treasury notes and the Japanese yen.
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